Circuit breakers are pre-set values in percentage terms. These are automatically functioning electrical switches, which are designed to secure electrical networks from being damaged by the excess current from overload or even short circuit. The primary and the basic functioning of the circuit breaker is to interrupt the current flow on detection of any fault. According to the latest study conducted by Market Research Future (MRFR), the global circuit breakers market is expected to experience decent growth during the forecast period.
Leading Players analyzed in
the Circuit Breaker Market Report are:
Global circuit breaker market is dominated by key players such as
Schneider Electric (France), ABB (Switzerland), Mitsubishi (Japan), Siemens
(Germany), Powell (US), Toshiba (Japan), Fuji Electric (Japan), CG Power
(India), TE Connectivity (Switzerland), Larsen & Toubro (India), Tavrida
Electric (Switzerland), and others.
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Industry
Highlights
Circuit Breaker is referred to an
automatic electric switch that finds wide application in stopping the flow of
current in an electric circuit to safeguard the electrical system from damage.
Circuit breakers are used in commercial, residential, and industrial
zones. It assists in protecting the electric appliances from overload, short
circuit, or over-current. The key advantages of using circuit breaker include
its smooth functioning without the requirement of any replacement such as a
safety device or a fuse.
The market
is expected to be driven due to operational safety and the expanding measures
undertaken to integrate a dependable and sustainable electrical infrastructure.
As developing regions across Asian and African nations witness frequent power
lags as well as network failures, the regions hold massive potential in the
deployment of effective electric products. The industry dynamics can also be
positively influenced by the increasing measures to prevent fire hazards,
faults in electrical supply, and relevant operation dereliction.
Additionally, the Circuit Breakers Market are extremely cost effective and offers reliable
operation of the electric circuit. Surging access to electricity in emerging
economies would drive the growth of circuit breakers. Moreover, administrative
bodies around the world are taking steps to build smart cities in prominent
places for conserving energy. This would further fuel the market for circuit
breakers such as molded and miniature case circuit breaker. The circuit breaker
market is estimated to witness high growth rate globally over the forecast
period. The growth is primarily owing to the surging demand for efficient
safeguarding devices in electrical circuit coupled with sharp growth in
electricity consumption and demand.
Circuit Breaker Market
Segmentation
Global circuit breaker market
is segmented based on type, region, voltage, and end-user.
By voltage, the market
includes high voltage, low voltage, and medium voltage segments. The low
voltage circuit breakers are the leading segment in this category.
By type, the market
divides into SF6, vacuum, and others.
By end-user, the market
comprises of residential, commercial, and industrial.
Circuit Breaker Regional Industry
Analysis
The geographical segmentation of the global circuit
breakers market covers 5 key regions, namely North America, Europe, Latin
America, Asia Pacific, and the Middle East & Africa.
The North American market is the leading region in the
global circuit breaker market, primarily due to the fast-paced expansion in the
production base over the years. The market contribution of the North American
region can be attributed significantly to the US. The US region holds a major
hand in the global market and is projected to continue its growth trajectory in
the forthcoming years as well.
Asia Pacific holds the
largest share in the circuit breaker market. The increasing population in the
APAC market happens to be a key factor in driving the demand for circuit
breaker. The growing population requires increased power supply. Additionally,
the surging grid investments primarily in emerging economies such as India and
China pave the way for increasing electrification throughout the countries. The
need for electrification is mainly dominated by factors like industrialization
and urbanization in remote areas of countries such as Indonesia, the
Philippines, and Vietnam. Upgradation of power infrastructure and upcoming
smart cities in the APAC market create lucrative opportunities for propelling
the demand for circuit breaker.
The European region closely follows North America to
stand tall as the second-largest global circuit breakers market. The Asia
Pacific market is projected to experience growth at the fastest pace during the
forecast period. Herein, developing economies like China, Indonesia, and India
pose favorable growth potential as these countries continue to expand their
current power generation capacities and the supply infrastructure to match up
to the rising electricity demand.
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